Rupee hits record low of 90.46 vs USD; RBI likely intervenes to limit losses
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The Indian rupee hit a new record low against the U.S. dollar, falling past 90.4675 due to the lack of a trade deal with the U.S. and corporate dollar outflows. The central bank reportedly intervened mildly to slow the currency's depreciation rather than defend a specific level.
Synopsis
The Indian rupee hit a new record low against the U.S. dollar, falling past 90.4675 due to the lack of a trade deal with the U.S. and corporate dollar outflows. The central bank reportedly intervened mildly to slow the currency's depreciation rather than defend a specific level.
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